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Abusive bank commissions are being taken to court again. 100 lawsuits are being preparedUpdated: 09-08-2010 | Financial and Banking

After it lost to a group of 19 clients three months ago, Volksbank is getting ready for a lawsuit filed against it by 100 other debtors. Abusive commissions and clauses regarding interest rate variation are being attacked

Disgruntled by the fact that they are still being charged a risk commission although it has been declared illegal by the National Authority for Consumer Protection (ANPC) over 100 clients of Volksbank Romania, the third largest bank in Romania by asset value, are getting ready to take the bank to court.

Said commission was supposed to be eliminated starting June 1st, but clients claim that it is still being charged and that after the wave of complaints that was sent to the National Authority for Consumer Protection , the bank merely intends to change its name into that of "management commission". Said commission is of 0.165% of the balance of the loan, payable monthly, on the due dates, throughout the entire duration of the loan agreement. The petitioners are asking that this tax be eliminated, as well as for all money charged so far for it to be returned.


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